Bangkok (NNT/VNA) - S&P Global Ratings has reaffirmed Thailand’s sovereign credit rating at BBB+ with a stable outlook.
The agency forecasts steady economic growth for the country, expecting GDP to rise from 1.9% in 2023 to 2.8% in 2024, and 3.1% in 2025. This growth will be driven by ongoing economic stimulus measures and a strong recovery in the tourism sector. Over the 2024–2027 period, Thailand's real GDP growth is projected to average 3.0%.
Pachara Anantasilp, Director-General of the Public Debt Management Office, highlighted key factors contributing to the positive outlook. S&P expects the government to continue prioritizing investments that align with national strategies. These include the development of the Eastern Economic Corridor and large-scale transportation infrastructure projects. Investments by state enterprises and public-private partnerships are also expected to drive these initiatives forward.
The net government debt-to-GDP ratio is projected to rise by 3.3% in 2025. This increase is partly attributed to economic stimulus measures such as the 2024 Economic Stimulus Programme, which includes 10,000-baht cash handouts for eligible citizens.
From 2024 to 2027, Thailand’s current account surplus is expected to average 2.3%. This will be supported by a recovery in the export sector and a revitalized tourism industry. Between January and October 2024, international tourist arrivals surged to 28.8 million, marking a 29.3% increase compared to the same period last year.
S&P will closely monitor Thailand’s economic growth relative to countries with similar income levels. The agency also noted the importance of domestic political stability. Consistent economic policies and stable political conditions could pave the way for an upgrade in Thailand’s credit rating tᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚo A-, as 😼they would enable more effective economic policymaking./.
Thailand has recorded a decrease of 20% in low-quality imports, mainly from China, since imposing restrictions on cheap imports that are hurting business in Southeast Asia's second-largest economy, government spokesperson Sasikarn Wattanachan said on December 9.
Thailand expects a tourism revenue of 62 billion THB (1.83 billion USD) during the upcoming New Year festival, up 23% over the same time last year, according to the Tourism Authority of Thailand (TAT).
The Thai Ministry of Digital Economy and Society (DES) has successfully blocked access to more than 178,000 URLs of illegal websites and social media pages over the past 14 months.
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
